American Marconi Wireless News - Dateline Secures Second Rig to Fast-Track Colosseum REE Program

The second rig will work in tandem with the Major Drilling rig on site to complete the 12-hole REE program before being deployed to test the other gold and REE targets within the project area. Depending on timing and requirements, the second rig may also be mobilised to undertake drilling programs at Music Valley and/or Argos.

Highlights

• Second rig acquired: Dateline has purchased a diamond drill rig to supplement the contracted rig currently drilling the rare earth targets at Colosseum.

• Rig mobilised to site: The rig has been mobilised to site and has undergone final safety inspections before commencing drilling.

• Gold and REE targets: The two diamond rigs will work in tandem to complete the regional gold and REE targets as well as test the northeast extension of the North Pipe mineralisation.

Dateline's Managing Director, Stephen Baghdadi, commented:

"The acquisition of the drill rig makes strong commercial sense given the expected scale of drilling over the coming years.

"Securing another owner-operated, track-mounted rig provides greater flexibility to drill a wider range of targets, particularly in areas where conventional truck-mounted rigs cannot access.

"In addition, our Company-owned third rig is also being deployed to support additional drilling aimed at expanding what we believe has the potential to evolve into an underground gold mineral resource after open-pit mining is completed.

"With multiple rigs operating, we expect a meaningful increase in both REE and gold-related news-flow over the coming period."

This press release has been authorized for release by the Board of Dateline Resources Limited.

For more information, please contact:

Stephen Baghdadi
Managing Director
+61 2 9375 2353

Andrew Rowell
Corporate & Investor Relations Manager
+61 400 466 226
[email protected]
www.datelineresources.com.au

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About Dateline Resources Limited

Dateline Resources Limited (ASX:DTR)(OTCQB:DTREF)(FSE:YE1) is an Australian company focused on mining and exploration in North America. The Company owns 100% of the Colosseum Gold-REE Project in California.

The Colosseum Gold Mine is located in the Walker Lane Trend in East San Bernardino County, California. On 6 June 2024, the Company announced to the ASX that the Colosseum Gold mine has a JORC-2012 compliant Mineral Resource estimate of 27.1Mt @ 1.26g/t Au for 1.1Moz. Of the total Mineral Resource, 455koz @ 1.47/t Au (41%) are classified as Measured, 281koz @1.21g/t Au (26%) as Indicated and 364koz @ 1.10g/t Au (33%) as Inferred.

On 23 May 2025, Dateline announced that updated economics for the Colosseum Gold Project generated an NPV6.5 of US$550 million and an IRR of 61% using a gold price of US$2,900/oz.

The Colosseum is located less than 10km north of the Mountain Pass Rare Earth mine. Planning has commenced on drill testing the REE potential at Colosseum.

Dateline owns 100% of the high-grade Argos Strontium Project, also located in San Bernadino County, California. Argos is reportedly the largest strontium deposit in the U.S. with previous celestite production grading 95%+ SrSO₄.

In March 2026, Dateline consolidated the Music Valley Heavy Rare Earth Project in Riverside and San Bernardino counties, California. The region has known HREE mineralization from USGS rock chip sampling, however, it has not been subjected to modern exploration techniques.

Forward-Looking Statements

This announcement may contain "forward-looking statements" concerning Dateline Resources that are subject to risks and uncertainties. Generally, the words "will", "may", "should", "continue", "believes", "expects", "intends", "anticipates" or similar expressions identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Dateline Resources' ability to control or estimate precisely, such as future market conditions, changes in regulatory environment and the behavior of other market participants. Dateline Resources cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements. Dateline Resources assumes no obligation and does not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required.

Competent Person Statement

Sample preparation and any exploration information in this announcement is based upon work reviewed by Mr. Greg Hall, who is a Chartered Professional of the Australasian Institute of Mining and Metallurgy (CP-IMM). Mr. Hall has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr. Hall is a Non-Executive Director of Dateline Resources Limited and consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

Company Confirmations

The Company confirms it is not aware of any new information or data that materially affects the information included in the announcements dated 23 October 2024 with regard to the Colosseum MRE and 23 May 2025 with regard to Colosseum Project Economics. Similarly, the Company confirms that all material assumptions and technical parameters underpinning the estimates and the forecast financial information referred to in those previous announcements continue to apply and have not materially changed.

SOURCE: Dateline Resources Limited

View the original press release on ACCESS Newswire

Ch.Havering--AMWN